Wang Qing, Chief Macro Analyst at East Money Securities: In the future, the central bank's increase in gold holdings is still the overall trend.

On September 7th, the People's Bank of China announced that China's gold reserves at the end of August amounted to 74.02 million ounces, up from 73.96 million ounces at the end of July. This marks the 10th consecutive month of increase in gold holdings by the Chinese central bank. In response to this, Wang Qing, Chief Macro Analyst at Orient Securities, stated in an interview with the Securities Times that the central bank's increase in gold holdings is still the general direction. Wang Qing believes that as of the end of August, the proportion of gold in China's official international reserve assets was 7.3%, significantly lower than the global average of around 15%. From the perspective of optimizing the international reserve structure, it will be necessary to continue increasing gold reserves while moderately reducing holdings of US debt in the future. Additionally, gold is widely accepted as the ultimate means of payment globally, and the central bank's increase in gold holdings can enhance the credit of sovereign currency and create favorable conditions for the cautious promotion of the internationalization of the renminbi.